Lou Raffetto resigning from TOC

ARCADIA, Calif. – Lou Raffetto is resigning his position as president of the Thoroughbred Owners of California after less than two years in the job, he said on Thursday.

In a telephone interview, Raffetto said that “my role has changed” since he was hired in July 2011 to direct the TOC, the state’s official representative of Thoroughbred horsemen.

“When I was hired they needed someone with knowledge of racing, racetracks and wagering,” he said. “They have less need for my expertise in the field. I think they’re in a position to hire someone with a different skill set.”

Raffetto, 63, a veteran racing executive with roots in the Mid-Atlantic and New England, said in an interview that he plans to stay with the TOC “as long as I’m needed to help with the transition.”

He said that could be two weeks to two months, but did not give a definite time frame. Raffetto said he does not have specific plans in the future.